Secrets of Enterprising Families

In this episode, we explore the critical role that the rising generation plays in a family business. Succession is not just about the strength of the current management team—it also depends on how well the next generation is prepared, engaged, and developed as future leaders, from building credibility and experience to navigating difficult family dynamics and governance responsibilities.

Our guest, Meghan Juday, Chair of the Board at Ideal Industries, brings firsthand experience navigating the challenges of stepping into governance and leadership roles within a multigenerational family business. Meghan shares insights on overcoming imposter syndrome, earning credibility and ensuring rising gen members contribute meaningfully—whether actively involved in day-to-day operations or as a board member, owner or trustee.

In This Episode, You Will Learn:
  • (03:14) Preparing to Join the Family Business
  • (13:09) Effective Governance and Risk Management
  • (17:46) Challenges of Family Business Transitions
  • (28:02) Advice for Rising Gen Leaders
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Remember to subscribe to Secrets of Enterprising Families to stay connected as we dive deeper into the strategies that empower families to manage wealth across generations. Don’t miss our next episode, where we’ll shift the focus to managing wealth for success—exploring the key principles, strategies, and decisions that help families sustain and grow their wealth over time.

What is Secrets of Enterprising Families?

Why are some families successful at building and sustaining their wealth, generation after generation?

Welcome to Secrets of Enterprising Families, a podcast from The Northern Trust Institute devoted to unlocking the specific strategies that multi-generational families use to transfer their values, wealth and legacy from one generation to the next.

In each episode, hosts Nikè Anani and Eric Czepyha will interview a nationally recognized expert on a different wealth planning topic, from marriage to the arrival of children to specific advice for business owners and corporate executives.

Northern Trust is a leading global financial institution that has helped families navigate the complexities of wealth for more than 130 years.

Nikè Anani is the Director of Next Gen Advisory at Northern Trust, specializing in preparing future generations for wealth ownership. Eric Czepyha is the Director of Business Services at Northern Trust and works with multi-generational business owning families on business transitions and succession planning.

Brought to you by the same team behind The Road to Why podcast, Secrets of Enterprising Families will empower you with strategies to tackle financial challenges in a way that engages each member of your family. Subscribe today.